ADGM outsourcing requirements should be read in the current FSRA rulebook for the firm's activity. The core principle is accountability: an authorized firm remains responsible when regulated or important functions are performed by another party.
Official source
What teams need to do
- Identify outsourced functions and service providers.
- Assess materiality, regulated activity impact, data, and operational dependency.
- Review contracts for confidentiality, audit, access, regulatory access, monitoring, continuity,
termination, and exit.
- Monitor providers, issues, incidents, changes, and remediation.
Evidence to maintain
- Outsourcing inventory and risk assessments.
- Contract review and approval records.
- Monitoring, incident, issue, and remediation records.
- Continuity and exit evidence.
Common gaps
- Outsourcing analysis is not tied to regulated activities.
- Regulatory access terms are assumed but not evidenced.
- Exit plans do not match the actual service.
How Halbarad helps
Halbarad helps maintain outsourcing records, provider evidence, downstream-party visibility, monitoring, issues, approvals, and audit trail.
Disclaimer
This guide is for general information only and is not legal advice. Review the official regulation, guidance, and supervisory materials, and consult qualified counsel or compliance advisors for your organization's specific obligations.